Highest First Quarter Profit Since 2009,Thanks to OLED TVs | LG

South Korea’s LG Electronics said it expects first-quarter operating profit to rise 20 percent from a year ago to its highest in 9 years, beating market expectations. The world’s No.2 television maker did not disclose details of the results but analysts said bullish sales of OLED TVs and premium home appliances likely offset weakness in its mobile phone division. Preliminary January-March profit came in at KRW 1.1 trillion ($1 billion), the company said, beating a Thomson Reuters StarMine SmartEstimate of KRW 935 billion from a poll of 16 analysts.